- 1 HISTORY
- 1.1 MANDATORY INFORMATION
- 1.2 Domestic Wire Transfer to Bank of America
I know you are in the search of Bank of America Routing Number, and hence you have landed on to this post. I won’t disappoint you, you will surely acquire the legal information that you needed. The complete details of Bank Of America are listed below. So take your time and go through the points mentioned.
Bank Of America which is also abbreviated as BofA; is a multinational banking and holds financial services corporations have its headquarter in Charlotte, North Carolina, United States. It is the 2nd largest bank in the United States by assets. The bank had 26th rank as largest company in terms of total revenue. By the year 2016 Bank of America was on the 11th position in Forbes Magazine Global 2000 as the largest companies in the world.
This was the general information of bank. Moving on to its Routing number details which is also referred as ABA number, Routing Transit Number. An ABA RTN number is a nine-digit code used by each bank of United States, that is easily visible on the cheques to identify the financial institution of the account. The new method of payment is developed which is ACH and Wire transfer.
The ABA Routing Number is mandatory for Federal Reserve Banks to carry out the process of Fedwire Funds transfers and also the Automated Clearing House for direct deposits, bill payments and similarly automated transfers. The ABA RTN system was developed in 1910 by the American Bankers Association.
ACTIVE USERS AND ATM’S
There are approximately 26,895 active ABA RTNs currently in use. All the financial institution has atlas one routing number. A single financial institution may have up to 5 ABA RTN’s. Many of them have more than five, but they have more mergers of institutions.
ABA RTNs are used only for transactions and transfers within the United States. The RTN’s are used on paper cheques, wire transfers and ACH transactions. The ABA RTN is the middle set of nine numbers at the bottom of the check on the left side. Domestic transfers that use the ABA RTN are usually returned to the paying bank.
Incoming international wire transfers also use the SWIFT code – a system administered by the Society for Worldwide Interbank Financial Telecommunication (SWIFT). The code is often referred to as “SWIFT-BIC, BIC code, SWIFT ID or SWIFT code”.
The ABA RTN have two formats that appear on the standard check. 1) The fraction Form & 2) MICR (magnetic ink character recognition) form. Merely both the forms give same information but there is a minor difference in them.
The MICR is in the main form. It is printed in magnetic ink and is readable by the machine. It appears at the bottom left of a check and consists of nine digits.
The fraction form was used for manual processing before the invention of the MICR line. It generally appears in the upper right part of a check near the date.
The Fraction Form is:
where PP is a 1 or 2 digit Prefix, that is no longer used in processing, but still printed. The prefix and the Federal Reserve Routing Symbol (XXXX) are determined by the bank’s geographical location and treatment by the Federal Reserve type, while the remaining data (YYYY, and Branch number, if present) depends on the specific bank, and are unique within a Federal Reserve district.
MICR Routing number format
The MICR routing number consists of 9 digits:
where XXXX is Federal Reserve Routing Symbol, YYYY is ABA Institution Identifier, and C is the Check Digit.
Wire transfer is the quickest way to receive money in your Bank of America account. You can receive money from USA (Domestic Wire Transfers) or from a foreign country (International wire transfer). You have to provide your banking details to the sender for transferring money successfully.
International Wire Transfer to Bank of America
Incoming International Wire Transfer Instructions
To receive international wire transfer in your Bank of America account, please use the following wire instructions: Note: Banks in the USA don’t use IBAN account number.
|Bank Name:||Bank of America NA|
|SWIFT Code for Bank of America NA:||BOFAUS3N [for US dollars (USD) or unknown currency] BOFAUS6S [foreign currency (non-USD) denominated wires]|
|Routing Transit Number:||026009593|
|Bank address, City & State:||Bank of America, N.A. 222 Broadway New York, NY 10038 (regardless of where your account is located)|
|Beneficiary Account Number:||Your complete Bank of America NA account number (including leading zeros)|
|Beneficiary Name:||The name of your account as it appears on your statement|
Note of Caution on Fees: If the money you send or receive is converted in currencies, then take care while transfer. Because there are chances of poor exchange with higher hidden fees that are taken by banks. I recommend you to choose such transfer services, that do not cut any extra fees through wire transfer.
Domestic Wire Transfer to Bank of America
Incoming Domestic Wire Transfer Instructions
|Bank Name:||Bank of America NA|
|Wire Transfer Routing Number:||026009593|
|Account Holder Name:||Your Name|
|Account Number:||Your Bank Account Number|
|Bank Address, with City & State:||Bank of America, N.A. 222 Broadway New York, NY 10038 (regardless of where your account is located)|
Wire Transfer Fees for Bank of America
International and Domestic Wire Transfer Fees for Bank of America are as follows:
|International||Incoming||Incoming International Wire Transfer Fees varies based on your account type but it is usually between $0 to $15|
|Outgoing||$35 (if wire is in foreign currency) or $45 (if wire is in US dollars) for each transaction|
|Domestic||Incoming||Incoming Domestic Wire Transfer Fees varies based on your account type but it is usually between $0 to $15|
|Outgoing||$30 for each transaction|
Routing Number on Checks:
Routing Number that is even known as Routing Transit Number (RTN) is a 9 digit number that is generally mentioned in your chequebook and easily visible. Routing Numbers are used commonly for ACH and wire transfers (ACH means transferring money without using paper or cheques, cash etc).
If the bank has multiple branches, some of them have different routing numbers for different reasons or purposes. The easy way now you can find your routing number is an online method so that you can surely transfer money by all your assurance.
Keep in mind that all unions and financial institutions have routing numbers for a various paper transaction and electronic transactions too. So don’t get confused and insert same routing number for various transaction processes.
State / Region
|State / Region||Paper (ROUTING NUMBER)||Electronic Transactions (ACH NUMBER)||Wire Transfer|
|Illinois – South||081904808||081904808||026009593|
|Illinois – North||071000505||071000505||026009593|
|Illinois – Chicago Metro||071103619||081904808||026009593|
|Indiana (Opened before 8/23/2008)||051000017||051000017||026009593|
|Indiana (Opened after 8/23/2008)||081904808||081904808||026009593|
|Michigan (Opened before 8/23/2008)||051000017||051000017||026009593|
|Michigan (Opened after 8/23/2008)||081904808||081904808||026009593|
|Missouri East/St. Louis||081000032||081000032||026009593|
|Missouri West/Kansas City||101000035||081000032||026009593|